The Pickwick Hotel, which hosts a large number of conferences, receives 5% of revenue as a deposit in the month prior to a conference, 40% of revenue is received in the same month that a conference is held and 55% of revenue is collected in the month following a conference. Conference revenue was $60,000, $70,000 and $80,000 in January, February and March, respectively. What conference receipts would have been collected in February? Answer: I Next page